Susquehanna analysts moved Boyd Gaming Corporation (NYSE:BYD) rating from Neutral to Positive and set a new price target at $77 on the stock. This adjustment comes after revised forecasts revealed that the company is now trading at an appealing discount amid softer regional expectations.

The revised estimates stem from a combination of factors, including a downturn in first-quarter performance due to unfavorable weather conditions early in the year and less robust projections for the second quarter. In addition, the valuation model was recalibrated by applying a lower multiple on local Las Vegas operations—reducing the EBITDAR multiple from 9.0x to 8.0x—which further supported the more optimistic outlook for the stock.

Together, these adjustments suggest that Boyd Gaming’s shares have become an attractive long-term investment opportunity, warranting the upgrade to a Positive rating despite broader concerns about economic slowdown.